Vornado prices $500 million bond offering due 2033

Vornado Realty Trust (NYSE: VNO) announced that its operating partnership priced a $500 million offering of 5.75% senior unsecured notes due February 1, 2033. The notes were priced at 99.824% of face value to yield 5.78%.

The company expects to receive net proceeds of approximately $494 million from the offering. Vornado plans to use $400 million to repay unsecured notes maturing June 1, 2026, with the remainder allocated for general corporate purposes.

Interest on the new notes will be paid semiannually on February 1 and August 1, beginning August 1, 2026. The offering is expected to close January 14, 2026, subject to customary closing conditions.

BofA Securities, PNC Capital Markets, U.S. Bancorp Investments and Wells Fargo Securities served as joint book-running managers for the offering. Additional firms including BMO Capital Markets, J.P. Morgan Securities, Citigroup Global Markets and Goldman Sachs also participated as joint book-running managers.

The offering is being conducted under Vornado Realty L.P.'s shelf registration statement filed with the Securities and Exchange Commission on April 1, 2024. The transaction is being made through a prospectus supplement dated January 7, 2026.

Vornado Realty Trust operates as a fully-integrated equity real estate investment trust.

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